What does active T c mean in real estate? This is a listing where the seller has accepted an offer which includes a condition that must be met prior to moving forward with the purchase. It may be that the buyer needs to sell an existing home, is waiting for a tax return, or a number of other things.
What does active mean in real estate listing terms?
Common real estate listing terms: Active. This means that a property is currently on the market and available for sale.
What does active continue to show mean on a house?
Still, a good agent can analyze your particular situation and potentially set you up to get an active contingent house. Like active contingent, the status "active continue to show" means an offer has been made on a house, and it has been accepted by the seller.
What does “active option contract” mean in real estate?
When you see the “active option contract” status, it indicates that the seller has accepted an offer, but it falls within the option period. That means that the buyer has a specified number of days to have the property inspected. In some areas, an active option contract is called a contingency period or due diligence period.
What does “active contingent” mean in real estate?
If you see a property with an “active contingent” status, it means that the seller has received an offer from a potential buyer, but there are conditions that the buyer must meet before the sale may be finalized. That may mean the buyer must be approved for financing or a home inspection must be completed.
Can you make an offer on an active contingent?
In most cases, putting an offer in on a contingent home is an option to consider. Although it doesn't guarantee you'll close on the home, it does mean you could be first in line should the current contract fall through. Putting an offer in on a contingent home is similar to the homebuying process of any active listing.19-Jan-2021
What's the difference between contingent and active contingent?
When you are looking at online home listings, "active" status indicates that the property is available for sale. ... But with a contingent listing, the contract is contingent upon the buyer's ability to sell his existing home, i.e., if the buyer doesn't sell his home, he is able to back out of the contract.04-Oct-2012
What does active mean on a real estate listing?
Active. The property is listed and actively accepting offers. Active Under Contract. The seller has accepted an offer with contingencies, but may accept backup offers.
What does active mean in real estate sales?
When we talk about the status “active” as it relates to real estate, what it really means is that a listing has been posted on a local or regional MLS (Multiple Listing Service) and is officially up for sale.30-May-2020
What is the difference between active kick out and active contingent?
OPT Active Option Contract: Seller has accepted an offer but the Buyer is exercising the option period from the sales contract. ... KO Active Kick Out: Property has an offer contingent upon the sale of another property by buyer. (Refer to TAR Form 1908) Still available for showings and backup offers.
What does active T C mean?
Active T/C – The listing is under contract with an accepted offer, but a “Time Clause” addendum is in place and the buyer and seller agree that the property is to remain on-market so that additional offers may be solicited.
Why do sellers accept backup offers?
A seller may accept backup offers so if the current buyer walks there is another purchaser ready to close the deal. By collecting backup offers, the seller avoids having to remarket the listing, show the home again or sift through numerous new offers, because backup buyers eagerly await the home on the sidelines.
What does active mean on a Zillow listing?
ACTIVE – for properties that are offered for sale and have no accepted contract on them. ... This usually happens if the seller is interested in accepting another contract from a buyer who does not have a house to sell.21-Nov-2012
What does active mean Zillow?
Active. This means that a property is currently on the market and available for sale. It may have received offers, but none have yet been accepted, which means that the opportunity is wide open for you to make a proposal.18-Oct-2021
What does pending to active mean in real estate?
All about active/pending “Active” means a property is for sale, and the seller is seeking offers. “Pending” means the property is still technically for sale, but someone has made an offer. The transaction is considered pending until the buyer actually closes escrow.14-Dec-2017
What is active with contingencies?
If a home's status is "active contingent," it means that the buyer has submitted an offer to the seller with contingencies, or issues that must be resolved before the sale of the property can be finalized.24-Nov-2019
What does active with contingencies mean?
Active contingent is one of the many status updates given to a property listing. If a property has an active contingent status, it means the seller has accepted an offer from a buyer. However, the home sale isn't finalized yet because certain contingencies need to be met.22-May-2019
What does active contract mean?
A: Active with Contract means the buyers has a contract to purchase on the property. The contract has a contigency so the seller can still look and accept other offers.19-Oct-2011
What is active option period?
An active option contract is when the seller has accepted an offer on their home and the property is now in the option period. During this time, the buyer has the unrestricted right to terminate the contract for any reason without risking their earnest money deposit.17-Dec-2021
Can a seller back out of a contingent offer?
To put it simply, a seller can back out at any point if contingencies outlined in the home purchase agreement are not met. ... A low appraisal can be detrimental to a sale on the seller's end, and if they're unwilling to lower the sale price to match the appraisal value, this can cause the seller to cancel the deal.29-Dec-2021
Can a seller accept two offers?
Accepting two offers and negotiating two contracts in parallel? The issue is not legal or illegal: it's meaningless. A seller cannot accept another offer if the listing became “in-contract.” A home is “in-contract” after the buyer and the seller have signed the contract.
What does "active continue to show" mean?
Active continue to show. Like active contingent, the status "active continue to show" means an offer has been made on a house, and it has been accepted by the seller. With this status, the seller also publicly signals they're continuing to show the house and will accept backup offers.
What does "active listing" mean?
An active listing on a real estate portal means the corresponding property is currently for sale. The seller hasn't accepted any offers. You can make one if you're interested. It's a straight-forward definition — except for several important variations.
What is an active option contract?
An "active option contract" status means a seller has accepted an offer, and that the buyer has a period of time — the option period — to inspect the property.
What is an active contingent?
Active contingent. The seller of a house with an active contingent status has accepted an offer, unlike a seller with a straight-up active listing. An active contingent status signals that an accepted offer contains contingencies, which are conditions "that must be met before a contract is legally binding.”. [1]
What is the status of a buyer 2?
Buyer 2 makes an offer on the house. Buyer 1 has the right to meet the offer that Buyer 2 makes on the house. You may also see this status called "active right of first refusal," or "active rfr.". It can get complicated. But a good agent can help decipher the situation — and any baffling acronyms — for a home buyer.
What does it mean when a house is inactive?
A house with an inactive status is, at that moment, no longer for sale. It doesn't mean the house is permanently off the market. Inactive houses can become active again. For instance, a deal could fall through late in the home-purchase process, spurring the seller to put the house back on the market. ARTICLE SOURCES.
What percentage of contracts are active in 2020?
According to the May 2020 Realtors Confidence Index Survey, 76% percent of contracts that month included them. To find out more about an "active continue to show" property and the details of its status, have your agent talk to the seller's agent.
What does "withdrawn" mean in real estate?
Withdrawn. A property was withdrawn from the realty market. This might be for a variety of reasons: The sellers may have decided they want to stay put, or they may just not have received any offers they liked. So if you adore what you see in the listing, it certainly can’t hurt to inquire. real estate terminology.
What does it mean when a property listing is expired?
Expired. The property listing with the agent has expired and is no longer active, usually because it didn’t sell, says Matthews. That could mean the seller is still open to accepting an offer, so it’s worth touching base if your curiosity is piqued.
What does it mean when a home is pending?
This means the seller has an accepted offer and an executed contract, and all the contingencies have been met, so the home is pending sale . This is the escrow period, when both buyer and seller are working toward a closing. The status will show as pending until the closing. Even though a sale is highly likely, some pending properties may still accept backups. If your offer is accepted as a backup, you’re in line to go under contract if the first sale falls through.
Why is my house removed from the listings?
The owner has removed the property from the listings for an undetermined period, usually because work is being done on the house or because the home cannot be shown. It should return to active soon enough, so it’s certainly worth piping up if you’re smitten.
What does "active contingent" mean?
What does ‘active contingent’ mean? If a home’s status is “active contingent,” it means that the buyer has submitted an offer to the seller with contingencies, or issues that must be resolved before the sale of the property can be finalized. The most common reasons a home is labeled contingent are: the home passing an inspection, ...
What is the difference between pending and contingent listing?
The biggest difference between contingent and pending listing statuses in the MLS has to do with the presence of a contingency in the sale. Some contingencies, such as a home inspection or a buyer’s approval for a mortgage, must be met. But if a house is described as “ pending ,” it means that no contingency exists or that all contingencies have ...
What does Active, Contingent & Pending mean in real estate?
What does Active, Contingent & Pending mean in real estate? Real estate is an interesting world. We basically have our own language and it can get very confusing to the consumer. I literally teach over 500 terms to real estate students, so I can see how this could happen to a consumer that has zero real estate knowledge.
Active
For a property to be in Active status, the property would be on the market and free and clear of any accepted offers. Now pay attention, I said “accepted” offers. That does not mean that there are no current offers being negotiated on the property. It just means that there isn’t any accepted yet.
Contingent
Before we talk about what Contingent status is, first let’s talk about what an actual contingency is. A contingency is a provision that has to be resolved or satisfied prior to a contract moving forward. Common contingencies include items like inspections, appraisals, financing, and sale of another home.
Pending
We’ve talked about Active and Contingent status, but what about that mysterious Pending status? I see quite a few people struggle with this one, including plenty of real estate agents.
Closed
After all contingencies and terms of the contract have been met, the next and final stop on our “conveyor-belt” would be into Closed status. At this point, the parties all sign the final documents required in order to officially change the deed from seller to purchaser.
What does "active under contract" mean?
When we talk about the status “active” as it relates to real estate, what it really means is that a listing has been posted on a local or regional MLS (Multiple Listing Service) and is officially up for sale. At the point where a listed property is active, other agents can log in and view the property through the MLS and begin to show the home to potential buyers.
What does pending status mean on MLS?
If a property on the MLS has a pending status, it means that the sale has entered the escrow period. During this time, the final stages are underway. Final paperwork is signed, and the disbursement of funds takes place. A buyer’s agent can show their clients any home as long as the seller, and their agent agrees.
What happens when a buyer makes an offer that the seller accepts contractually?
When a buyer makes an offer that the seller accepts contractually, the status of the listing then turns to “active under contract.”. At this point, the contract between buyer and seller will bar the seller from agreeing to sell the home to someone else, and also binds the buyer to their agreement to purchase the home.
What does "pending" mean when viewing a home?
When you first consider viewing a home, you may come across terms such as “active under contract” or “pending.”. Put simply, these phrases essentially indicate where a property is in the selling process, and thus whether or not a buyer can view or make an offer on a home. hash-mark.
Can a buyer's agent show a home?
A buyer’s agent can show their clients any home as long as the seller, and their agent agrees. If you find your dream home, you can still request to view the property, although chances are slimmer with a pending sale.
Contingencies When a House is Under Contract
A buyer will add real estate contingencies to the agreement to protect them legally and financially, as the sale isn’t finished until the contract is finalized.
Active Under Contract vs. Pending
These are two different things in home sales. Both are used when a seller has accepted the buyer’s offer, meaning that both parties are under contract.
Making an Offer on a House Under Contract
It is possible to make a backup offer on a house while it is active under contract, but stay clear-headed and don’t become emotionally invested in purchasing the property. The reality is that if the contingencies are met, the sale will go through, leaving you on the sidelines.
Homes Come Back on The Market All The Time
Patience is a virtue and it could really help you when trying to buy a home!
The Bottom Line on Under Contract Homes
Becoming emotionally invested in a home that’s active under contract isn’t the worst thing that can happen, and if you are a risk-taker, you will know that it may not come off.
